Capital Fund Allocations 2009/10 to 2011/12
HBLB approved allocations of interest-free loans in respect of racecourse projects, totalling £8,069,000 from Capital Fund 2009/10, £13,979,000 from Capital Fund 2010/11 and £12,457,000 from Capital Fund 2011/12.
Tote (HTB) contribution To The 48th levy: 2009/10
HBLB at its March Board meeting approved: The contribution by the HTB in respect of the 48th Levy period should be determined on the basis that the HTB will contribute, in respect of off-course SP and Tote odds, cash, internet, interactive, and telephone horserace betting business and on-course SP cash and credit horseracing business as if it were a bookmaker for the purposes of the 48th Levy Scheme, and in respect of Tote Direct, at the rate of 10% of horserace betting gross profits.
47th Levy Scheme Default Percentage
The Levy Board noted: The default percentage to be identified in the Form of Declaration and Guidance Notes to Accountants for the 47th Levy period will be 44% of total gross profits, excluding profits from gaming machines.
HBLB approved the following:
(a) A £2,200,000 interest-free loan to Carlisle, from the 2009/10 Capital Fund, towards the provision of site and drainage works for the track development project, and Jockey, Steward’s and hospitality facilities.
(b) A Capital Credit Grant of up to £350,000 towards the provision of site and drainage works for the track development project, and Jockey, Steward’s and hospitality facilities.
(c) Authority be delegated to the Chairman to give final approval and set the cost limit for the Carlisle track development project, and Jockey, Steward’s and hospitality facilities, following a satisfactory report from the Board’s Technical Committee Stage III meeting.
A Capital Credit Grant of up to £64,500 to Ascot Racecourse to meet the cost of providing a new Main Reception Area within the “smoking area” adjacent to the existing Security Office, located to the East of the existing East Ticket Office.
A Capital Credit Grant of up to £14,700 to Salisbury towards the cost of a new Wheelchair Viewing Ramp, Rubberise floors and walls of its 10 closed saddling up boxes and new barrier fencing.